Porsche Expands Gasoline Lineup as EV Sales Struggle

The luxury carmaker revises its strategy, introducing new combustion and hybrid models while facing financial challenges and competitive pressures.

Porsche announced plans to launch new gas-powered and plug-in hybrid models to address declining sales and profitability, particularly in China.
The company forecasted a lower-than-expected profit margin of 10%-12% for 2025, citing high development costs and weak demand for electric vehicles in Europe and China.
Porsche's EV sales, including the Taycan, dropped significantly in 2024, with deliveries in China plunging 28% as local competitors like BYD and Xiaomi gain market share.
The carmaker has backtracked on its target of 80% all-electric vehicle sales by 2030, citing slower-than-expected consumer adoption of EVs.
Porsche's stock valuation has fallen sharply since its 2022 listing, with recent declines driven by disappointing financial forecasts and internal leadership changes under discussion.